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Listed by:KW Everett • Aaron Byrne
$ 2,400,000
Est. payment /mo
Active
6325 Evergreen WAY Everett, WA 98203
11,895 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 11,895 sqft
Price per Sqft $201
Subdivision Evergreen
MLS Listing ID 2479732
Style 56 - 10+ Units
Year Built 1968
Annual Tax Amount $11,541
Lot Size 0.270 Acres
Property Sub-Type Multi Family
Property Description
FLAGSHIP EVERETT 2044 REDEVELOPMENT | MU-7 (2-STORY) | 5.44% CAP. Unparalleled investment opportunity featuring a strategic 2-parcel assemblage in Everett's premier high-growth corridor. This combined footprint represents a premier "Covered Land Play," delivering immediate cash flow with a stable 5.44% In-Place Cap Rate. VALUE-ADD & STABILITY: With 16 existing units (Retail Storefronts + Apartments), the asset provides strong, steady income to offset carrying costs during the entitlement phase. Rents are currently significantly below market, providing a clear value-add opportunity to immediately increase NOI and yield while pursuing future development.Under utilized basement and storage rooms. THE ASSEMBLAGE ADVANTAGE: This 2-parcel footprint provides the critical depth and scale necessary for institutional-grade mid-rise construction. Unlock maximum unit yield and optimized parking configurations under new TOD mandates. Single-lot sites in this corridor cannot achieve this level of Floor Area Ratio (FAR) potential. EVERETT 2044 VISION: Positioned in the newly adopted MU-7 (Mixed Urban, 7-story) growth corridor. Located on a high-visibility arterial (30k+ VPD) steps from future Sound Transit Light Rail. Capitalize on Everett's blueprint for density in a submarket primed for transformation. Sold as-is. Buyer to verify all development yield.
Location
State WA
County Snohomish
Area 740 - Everett/Mukilteo
Interior
Fireplace false
Exterior
Exterior Feature Cement/Concrete
Garage Spaces 6.0
View Y/N Yes
View Territorial
Roof Type Built-Up
Building
Lot Description Paved, Sidewalk
Sewer Sewer Connected
Water Public
New Construction No
Schools
School District Everett
Others
Senior Community No
Acceptable Financing Cash, Conventional, See Remarks
Listing Terms Cash, Conventional, See Remarks
"Three Trees" icon indicates a listing provided courtesy of NWMLS.
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